-The Table Above Shows the Marginal Social Benefit of Fishing

question 21

Multiple Choice

-The table above shows the marginal social benefit of fishing in the Mediterranean Sea. The marginal private cost of operating a fishing boat is the same for all producers; $300 per hour. The marginal social cost is twice the marginal private cost. The efficient quantity of fish caught is ________ tonnes.

• A) 100
• B) 200
• C) 300
• D) 400
• E) 500

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Definitions:

Pipes Component

Essential parts of a system's infrastructure that facilitate the flow or transportation of resources, information, or services.

Postwar Music Industry

Refers to the evolution and growth of the music industry following the end of World War II, characterized by technological innovations and changing consumer behaviors.

High Market Concentration

A situation in an industry where a small number of companies hold a large market share, often leading to reduced competition.

Homogeneity

The quality or state of being all the same or all of the same kind, often used to describe media content that lacks diversity.